My K-1, Part II, Box 13 has the code "K" and the number "1". Instructions for the K-1 form indicate the amount in Box 13 should be entered on Schedule A, Line 23.
What does the "1" represent?
It just doesn't seem to make sense to me. Can anyone shed some light on this?
Thank you, Valerie

Valerie,

I think you mean K-1, Part III (not II).

The "1" means $1. So, you should enter $1 on Schedule A Line 23 of your
personal 1040 tax return. Of course, you would only do that if you are
itemizing deductions on your personal tax return.

-Jim Thomas

> My K-1, Part II, Box 13 has the code "K" and the number "1". Instructions
> for the K-1 form indicate
> the amount in Box 13 should be entered on Schedule A, Line 23.
> What does the "1" represent?
> It just doesn't seem to make sense to me. Can anyone shed some light on
> this?